Stocks fall on caution as trade talks resume

Chinese mainland stocks fell on Thursday as investors took a cautious stance ahead of the ChinaUS trade talks that were held in the day.

The blue-chip CSI300 index dropped 0.74 percent to 3,864.05 points, while the Shanghai Composite Index lost 0.48 percent to 3,154.28 points.

The US and China were set to launch trade talks on Thursday in a bid to avert a damaging tariff war, with the White House’s harshest China critic relegated to a supporting role, senior Trump administration officials said on Wednesday.

The financial sector sub-index was lower by 0.05 percent, the consumer staples sector down 0.85 percent, the real estate index up 0.07 percent and healthcare sub-index down 1.22 percent.

The smaller Shenzhen index was down 0.62percent and the start-up board ChiNext index was weaker by 0.84 percent.

The largest percentage gainers in the main Shanghai Composite Index were China Petroleum Engineering Corp up 10.11 percent, followed by Suzhou Douson Drilling& Production Equipment Co gaining 10.04 percent and Shanghai La Chapelle Fashion Co up by 10.01 percent.

The largest percentage losers in the Shanghai index were Shanghai Diesel Engine Co down 9.99 percent, followed by JDM JingDa Machine Ningbo Co losing 6.34 percent and Inly Media Co down by 6.32 percent.